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Now for something new. I like the little bull flag ROST is forming after a breakout. I'm not sure what pattern the stock broke out from. Maybe you can call it an ascending triangle or a malformed cup and handle. But it doesn't really matter because the stock is consolidating after a brief but powerful run up. Volume is tapering off on the downside of the flag. When the stock breaks from it's bull flag, I want to see volume surge.

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TIVO has been doing very well. I have taken partials here and now will ride this trade out with my stops set at breakeven. Part of my plan has always been to take partials (usually enough to cover what I risked) when the stock hits its first level of consolidation. When I featured TIVO on 2/13 I thought the market would go lower. Now I'm not so sure. The NASDAQ and DOW as well as the broader S&P 500 are still all trending happily upwards. I'm going to keep a little in TIVO in the event that this uptrend carries the stock with it.

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I'm canceling my watch of GOOG. What once was a bear flag has become something else. The retracement has become too steep and has broken through the top of the stock's previous consolidation. Who knows. GOOG make come crashing back down, but in light of current market conditions, my money is better put elsewhere.

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I have my comments fixed, sort of. Now you can see what you type, but I somehow greyed out the submit button. I consider myself still in the sandbox phase of this blog. I want to provide quality content, but at the same time it's still new enough to allow me to mess around with the theme and other functionality. I apologize in advance to those readers who are patiently enduring my tinkering. I hope it doesn't impact your experience too much. Ok, so I am looking at trades that I have featured on this blog. My current open and potential setups include CTSH, EBAY, GOOG, TIVO, WYNN, and AER. They all look good. The CTSH and GOOG trades have not setup. The EBAY, TIVO, WYNN, and AER trades have setup. Special note on TIVO and WYNN: TIVO is knocking on it's 200 day SMA. I am going to see how it opens. TIVO has no earnings, no fundamental reason to keep going. So, I'm going to give it a very short leash. If there is retracement this week, I'm out. I can always buy another breakout. WYNN bounced off its 50 day SMA which was not unexpected. I'm going to see how it shakes out this week, but if it continues back up and stops me out, no big deal. There will be other trades. I expect tomorrow to be quiet. I will be trading in the AM and research after noon.

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I have three trades for tonight that I will be watching closely tomorrow. The first trade is CTSH. CTSH is forming an ascending triangle after a powerful gap. I like this trade because the setup is familiar and the stock has shown strength all year. One possible downfall is that the stock has over 140 million shares in its float. I typically prefer more thinly traded stocks because they move much more quickly when the breakout starts.

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